Business Management
April 4, 2012
EST1 Assignment
Task 1: 310.2.1-05
In today’s business world following a code of conduct, making ethical business decisions, and being socially responsible are three key factors each company must follow to maintain successful. These three factors are just as important as creating a steady profit, establishing business relationships, and staying loyal and active with a company’s stakeholders. The perception of a community towards a business can be extremely detrimental to the progress and well being of a company. Creating a positive outlook for a company can be established in many different ways, “Making small adjustments throughout your company can eventually lead to bigger profits and increased customer loyalty”(Singh 2012). Simple changes to improve employee’s morals, and creating an ethical decision making atmosphere will not only built long-term customer relationships, but can also lead to a very successful and socially responsible company. Company Q is a small grocery store located in the middle of an extremely large metropolitan city. Not only are they competing with other small, family owned businesses, they are also trying to keep their head above water competing with large corporations such as Wal-Mart and Whole foods grocery stores. Recently, a local food bank asked Company Q if they would consider donating day-old food products to their department to help the homeless shelter. Given that the store was located in especially “high” crime rates, and the closing of two previous grocery stores, Company Q declined and decided to throw out the old products instead of donating them to the food bank. Clearly the business’s social attitude towards the community was apprehensively distorted, which led to the decision to dismiss the favor.
As a small business owner being part of your neighborhood goes far beyond selling goods to your community. Company
EST1 Assignment
Task 1: 310.2.1-05
In today’s business world following a code of conduct, making ethical business decisions, and being socially responsible are three key factors each company must follow to maintain successful. These three factors are just as important as creating a steady profit, establishing business relationships, and staying loyal and active with a company’s stakeholders. The perception of a community towards a business can be extremely detrimental to the progress and well being of a company. Creating a positive outlook for a company can be established in many different ways, “Making small adjustments throughout your company can eventually lead to bigger profits and increased customer loyalty”(Singh 2012). Simple changes to improve employee’s morals, and creating an ethical decision making atmosphere will not only built long-term customer relationships, but can also lead to a very successful and socially responsible company. Company Q is a small grocery store located in the middle of an extremely large metropolitan city. Not only are they competing with other small, family owned businesses, they are also trying to keep their head above water competing with large corporations such as Wal-Mart and Whole foods grocery stores. Recently, a local food bank asked Company Q if they would consider donating day-old food products to their department to help the homeless shelter. Given that the store was located in especially “high” crime rates, and the closing of two previous grocery stores, Company Q declined and decided to throw out the old products instead of donating them to the food bank. Clearly the business’s social attitude towards the community was apprehensively distorted, which led to the decision to dismiss the favor.
As a small business owner being part of your neighborhood goes far beyond selling goods to your community. Company
Cited: Csikszentmihalyi, Mihaly. April 14th, 2004. Good Business. Published in: Chicago, Illinois. Singh, Aman. April 2, 2012. The CEO Perspective: Trust, Transparency, CSR and Shareholder Value. Retrieved from: http://www.forbes.com/sites/csr/2012.